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City Council Regular Meeting Minutes September 10, 2024 Page 4 • Liability, property and casualty premiums are projected to increase by $24,469 in 2025. Main contributors to this are a 16.35% increase in municipal liability, 32.56% increase in auto, and 19.5% increase in excess liability premiums, the net increase is 13.64%. Pass Through Costs — 3% of expenditures, costs up $59,254. • The substantial portion of the increase represents an estimated $72,000 increase in fire relief payments made from state fire aid. This is offset by revenue of the same amount and is an accounting requirement with no net levy impact. The transfer for rent from the community center returned to the 2023 amount, a reduction of $15,000. Remaining Budget Line Items — 11 % of overall expenditures or $1,083,574, costs are up $51,732. • Energy costs make up $4,377 of this increase. • Anticipated inflationary factors have been applied to many of the supplies, printing and repair and maintenance services pushing these costs up by $21,622. • Budgeted costs for communications, memberships and training, community inclusion and sustainability initiatives and other miscellaneous items are up $25,733 compared to 2024. Other Factors for the 2024 Budget • Liquor transfer to the General Fund will be $275,000 same as 2024. • 2025 State -funded Local Government Aid reflects increases by only $921. • Police contracted services are estimated to increase by $68,688 a 7% increase. • Excess Tax Increment collections are projected to increase by $100,000 in 2025. Ms. Maloney provided a summary of the 2025 Budget: • General Fund operating budget totals $10,217,026 supported by a property tax levy of $6,396,944. • Personnel costs represent 71 % of General Fund expenditures: o Personnel costs up $676,727.18 or 11.46%. o Wages and benefits for $442,961 COLA and market adjustments. o The full -year impact of 2024 new positions implemented mid -year is $233,766. o Health insurance costs up $72,925. • Other Insurance expenditures up $17,575. • Contracted services down $28,982. • Capital Funds levies increased by $92,500. • Increase in all levies totals $551,106 or 6.00%. Since 1999 the City has been awarded $35,070,091 in Grants and donations from local businesses/residents. The next steps in the budgeting process include: • At the October 8, 2024, Council work session, Staff will present the proposed 2025 updates to the long-term capital budget plans. • At the October 22, 2024 Council work session, Staff will present the proposed 2025 utility rate adjustments and budgets.